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Entry: Lehman Talks Continue: Government Backing Still A Sticking Point
posted by SlashAndBurn
Sep 14, 2008 2:11PM
Anyone know how pensions are handled? BSC didn't have pensions, but LEH does (did).
Those fall under Federal jurisdiction, and can't be sold off/wiped out?
Entry: Lehman Talks Continue: Government Backing Still A Sticking Point
posted by SlashAndBurn
Sep 14, 2008 2:36PM
@50, thanks. Seems the govt pays out, though:
"We will pay your pension benefit when you have satisfied all of the conditions required by your pension plan and apply to PBGC to begin payments."
http://www.pbgc.gov/workers-retirees/benefits-information/content/page13200.html
Entry: Two Emergency Liquidity Plans, And A Board Meeting At Merrill
posted by SlashAndBurn
Sep 15, 2008 12:14AM
@16 -- "Does no one else in this country realize the implications of what is happening?"
That's sort of ironic. The country, and the Street, didn't realize the implications of toxic mortgages for the last 5+ years.
It's utterly retarded that a decent house in a decent town commutable to NY City costs about $700,000.
Houses like this Bulldozer Special should cost $150K, not $700K:
http://www.realtor.com/realestate/summit+city-nj-07901-1102882426/
Entry: Fed May Does Offer Bridge Loan To AIG
posted by SlashAndBurn
Sep 16, 2008 10:33PM
@86 - "Palin is a total empty headed looser."
Such irony, loser.
Entry: Fed May Does Offer Bridge Loan To AIG
posted by SlashAndBurn
Sep 16, 2008 11:06PM
RE: Letter in Bess' Update III
"September 16, 2008
Since you became chairman of AIG, you and the board have presided over the virtual [sic] destruction of shareholder value built up over 35 years. It is not my intention to point fingers or be critical...
Sincerely,
Hank
CC: AIG Board of Directors"
Entry: Morgan Stanley In Talks With Citic
posted by SlashAndBurn
Sep 17, 2008 10:46PM
Bloomberg:
Fuld sold shares that were worth $247 million a year and a half ago for less than $500,000 this week after he failed to find a buyer for his firm.
The 62-year-old CEO sold 2.88 million Lehman shares in the last two days at a price of 16 cents to 30 cents, according to a regulatory filing today. He still holds 503,744 shares, the filing said.
http://www.bloomberg.com/apps/news?pid=20601087&sid=amhAWGlw71UA&refer=home
Entry: Morgan Stanley In Talks With Citic
posted by SlashAndBurn
Sep 17, 2008 10:55PM
@53 -- If you think lefties posting personal e-mail and photos of Gov Palin's family will help your cause, you're sadly mistaken.
Now go follow The Messiah through all "57 states" and listen to his solutions for "American Insurance Group."
Entry: Morgan Stanley In Talks With Citic
posted by SlashAndBurn
Sep 17, 2008 11:02PM
@52 -- If you're going to copy-and-paste 45 pages of text, shouldn't you at least mention Nouriel Roubini, its author?
Or were you gonna plagiarize the whole thing for us?
- Will Hunting
Entry: Morgan Stanley In Talks With Citic
posted by SlashAndBurn
Sep 17, 2008 11:10PM
@80 -- McCain can't "use his email" because the vietcong smashed up his fingers, hands, and arms; he's forced to dictate while someone else types his messages.
Entry: Goldman And Morgan To Be Banks
posted by SlashAndBurn
Sep 22, 2008 2:04AM
Fury at $2.5bn bonus for Lehman's New York staff
By David Prosser
Monday, 22 September 2008
Up to 10,000 staff at the New York office of the bankrupt investment bank Lehman Brothers will share a bonus pool set aside for them that is worth $2.5bn (£1.4bn), Barclays Bank, which is buying the business, confirmed last night.
Entry: Barclehs Not Wasting Any Time
posted by SlashAndBurn
Sep 23, 2008 11:31PM
Where are the pics of 745 from this morning?
Was going to save them for posterity, but the latest one that replaced them sucks.
Entry: Barclehs Not Wasting Any Time
posted by SlashAndBurn
Sep 23, 2008 11:39PM
The NY Post has photos up:
http://www.nypost.com/photos/galleries/news/regionalnews/pp_20080923_barclays/photo01.htm
Entry: Write-Offs: 09.24.08
posted by SlashAndBurn
Sep 25, 2008 3:10AM
Where it began:
http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260
The New York Times
September 30, 1999
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
...
In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.
Entry: Write-Offs: 09.24.08
posted by SlashAndBurn
Sep 25, 2008 3:17AM
@17 writes "Stop being fucking vague; the American public does not believe you and they are pressuring the Congress critters to vote down your idea."
Probably why GWB introduced the dark clouds in tonight's speech.
Entry: Write-Offs: 09.24.08
posted by SlashAndBurn
Sep 25, 2008 3:24AM
@40 -- Can't do that, watching Biden talk about "President FDR" delivering a talk on television about the 1929 market crash.
Neat how FDR did that years before elected, and before TV was available to the American public.
Entry: Non-Breaking Forward Looking Statements On Bailout
posted by SlashAndBurn
Sep 28, 2008 2:51PM
Attempting to "prevent" foreclosures is asinine.
These people won't be "out on the street" -- they'll be back in apartments, where they should have remained in the first place.
Entry: McCain/Obama: (Tentative) Support For (Tentative) Bailout
posted by SlashAndBurn
Sep 28, 2008 3:05PM
@3 -- didn't think it was funny either.
Still waiting for SNL to get on the Biden train, where just last week he asked a Senator in a wheelchair to "stand up so people can see you":
http://www.youtube.com/watch?v=C2mzbuRgnI4
Or how about this statement from The Messiah himself:
http://www.youtube.com/watch?v=5BnLozS-TnM
No parody required, those are the real thing.
Libs always envision themselves as smarter than everyone else; makes them easy marks in life, and politics.
Entry: Kucinich: Not Enough Votes For Bailout
posted by SlashAndBurn
Sep 28, 2008 4:00PM
Kucinich is noted for his opposition to "mind control satellites":
107th CONGRESS - 1st Session
H. R. 2977
IN THE HOUSE OF REPRESENTATIVES
October 2, 2001
Mr. KUCINICH introduced the following bill...
SECTION 1. SHORT TITLE.
This Act may be cited as the 'Space Preservation Act of 2001'.
SEC. 7. DEFINITIONS.
In this Act:
(1) The term 'space' means all space extending upward from an altitude greater than 60 kilometers above the surface of the earth and any celestial body in such space.
(2)(A) The terms 'weapon' and 'weapons system' mean a device capable of any of the following:
...
(II) through the use of land-based, sea-based, or space-based systems using radiation, electromagnetic, psychotronic, sonic, laser, or other energies directed at individual persons or targeted populations for the purpose of information war, mood management, or mind control of such persons or populations;
Entry: Goldman Sachs (Executive) Selling Assets
posted by SlashAndBurn
Oct 10, 2008 11:17PM
This Goldman retard thinks homes increase in value 9X every ten years. Winkelried can't see the forest through the trees, even as the world crumbles around him because of the burst Housing Bubble.
Entry: Could A Resolution On Lehman Be Reached Tonight?
posted by SlashAndBurn
Sep 14, 2008 1:56AM
@82, 86, 88:
The Palin "interview" was heavily edited to make Palin look bad.
The full transcript has been made available:
http://www.pajamasmedia.com/instapundit/archives2/024281.php